ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market
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Risk
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Accident
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Loss
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Detailed explanation-1: -The imitative entrepreneurs will do business of an existing product in any other country. Example: Walton BD. has introduced its motorbikes, refrigerators, televisions and other electronic appliances in Bangladesh not being the original inventor of those products.
Detailed explanation-2: -Entrepreneurship examples can be startup companies like BYJU’S, Ola, Flipkart, etc, or it can be any small business that is started by an individual or a group of individuals.
Detailed explanation-3: -Joseph Schumpeter argued that entrepreneurs develop new products and technologies that over time make current products and technologies obsolete, and this process, which he called creative destruction, is good because it stimulates economic activity.
Detailed explanation-4: -Getting your business funded is one of the main issues that all business face and have to tackle in order to survive.